ETH/EUR is seen trading well above on Tuesday. The pair has recovered sharply after making a low of 10.40 levels (KRAKEN). It is currently trading around 11.02 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 11.22

Kijun-Sen level: 11.66

Trend reversal level - (100 day MA) – 10.67

Long-term trend remains to be bullish. ETH/EUR takes support near 200 -day MA and started to recover from that level. Any further weakness only below that level.

Minor resistance is around 11.22 (daily tenken-sen) and any break above targets 11.67 (21- day MA)/11.90 (61.8% retracement of 12.92 and 10.40). Short-term support is seen at 10.40 (200- day MA) and any break below will drag the pair till 10.08/9.50.